Blue Vista Capital Management, a Chicago-based investment management firm, in collaboration with UBS’s Unified Global Alternatives – Real Estate business and Extra Space Storage, has formed a strategic collaboration that will have approximately $600 million in buying power to build a diversified self-storage portfolio.

The strategy is to identify core-plus, value-add and development opportunities across the U.S., with the goal of creating a portfolio of self-storage assets designed for a perpetual life investment vehicle. Extra Space Storage will manage all investments made by the collaboration.

Blue Vista has a 15-year track record of investing in self-storage acquisitions and developments in the U.S., with deep market knowledge, execution and sourcing capabilities. Blue Vista has invested in 65 self-storage investments to date alongside sector-focused operators, including EXR.

“This collaboration represents the convergence of Blue Vista’s strong relationships alongside long-term operating partners and an existing investor, with our focus and conviction to the self-storage sector,” said Peter Stelian, CEO of Blue Vista Capital Management.